Best Quality Oracle 1Z0-1059-21 Exam Questions TopExamCollection Realistic Practice Exams [2022]
Critical Information To Oracle Revenue Management Cloud Service 2021 Implementation Essentials Pass the First Time
Oracle 1Z0-1059-21 Exam Syllabus Topics:
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NEW QUESTION 43
Which setup component Is NOT connected to a Revenue Price Profile?
- A. Items
- B. Contract Identification Rules
- C. Pricing Dimension Segments
- D. Source Document Types
Answer: D
NEW QUESTION 44
Which is a term under ASC 606 or IFRS 15?
- A. requires complete
- B. promise detail
- C. initial performance event
- D. transaction price
Answer: D
NEW QUESTION 45
Which three types of reference data critical to the Integration of a source system need to be synchronized between an external system and Revenue Management?
- A. Inventory items
- B. Business Units
- C. Suppliers
- D. Receivables configurations
- E. Banks, branches and bank accounts
- F. Customers
Answer: A,B,F
NEW QUESTION 46
Which is the correct definition of the Performance Obligation Liability on the balance sheet, replacing the Deferred Revenue liability?
- A. Unearned Revenue
- B. your invoiced goods and services less those goods and services that you have not yet delivered
- C. your debt to customers for goods and services you are obliged to deliver to them by either party acting
- D. your debt to customers for goods and services you are obliged to deliver to them by either party acting less your right to invoice them for those goods and services once delivered
Answer: C
NEW QUESTION 47
Which three statements about Effective Periods are true?
- A. If effective periods are not defined. Revenue Management uses the General Ledger calendar.
- B. Effective Periods only define the rage where standalone selling prices of an item should be effective.
- C. Gaps between periods are not allowed.
- D. You cannot have overlapping periods.
- E. Effective Periods are used for standalone selling prices and for creating journal entries.
Answer: B,D,E
NEW QUESTION 48
Which setup Is required to enable integration between Order Management and Revenue Management?
- A. Add Order Management in the Manage Trading Community Source Systems page.
- B. Define an Implied performance obligation template to create performance obligations associated to sales orders and return material authorizations.
- C. Create custom program to extract sales order and fulfillment data from Order Management.
- D. Configure settings In the Order Management section of the Manage Integrations for Revenue Management page.
- E. Assign Extraction Start Date for source document type DOO Sales Order in the Manage System Options for Revenue Management page.
- F. Define a source document type for the Order Management application and set satisfaction measurement model to quantity.
Answer: F
NEW QUESTION 49
A corporation uses a primary ledger with a currency of USD. The organization's data includes source document lines with amounts expressed in the Euro currency. However, Revenue Management calculates transaction totals, allocations, and creates accounting in the ledger currency.
What needs to be done in Revenue Management to convert transaction amounts to the USD currency?
- A. Create revenue prices in the Euro currency.
- B. Create source document types specifically for Euro documents.
- C. Populate Conversion Rate Type in System Options.
- D. Populate exchange rates in Revenue Price Profile.
Answer: C
Explanation:
https://docs.oracle.com/en/cloud/saas/financials/r13-update18a/fafrm/define-revenue-management.html#FAFRM2371348
NEW QUESTION 50
Given Revenue Management uses the Subledger Accounting engine to create journal entries from customer contracts, which Is NOT a predefined Accounting Class?
- A. Contract Expense
- B. Contract Liability
- C. Contract Clearing
- D. Contract Asset
- E. Contract Price Variance
- F. Contract Revenue
Answer: A
NEW QUESTION 51
Which two are choices for the Satisfaction Method when defining a Performance Obligation Identification Rule?
- A. allow complete
- B. require complete
- C. require partial
- D. allow partial
Answer: B,D
NEW QUESTION 52
When deciding how to set up the system to recognize revenue, it is important to understand the extent of revenue deferral and the subsequent timing of revenue recognition. Which two statements are true when you consider that recognition depends on the nature of the contingency? (Choose two)
- A. Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized
- B. Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.
- C. Time-based contingencies can expire, but the contingency will have to be removed manually before the revenue is recognized if payment is not due yet
- D. Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.
- E. Time-based contingencies must not expire before the contingency can be removed and revenue recognized
Answer: B,D
NEW QUESTION 53
What does the creation of an allocation allow you to determine?
- A. the maximum amount of revenue you can recognize soonest, postponing the minimum until later
- B. an allocation of the expected consideration over the performance obligations as if you had sold them separately
- C. the ability not to revise previously reported revenue for revision, corrections, and other changes
- D. the fair value of each performance obligation
Answer: D
NEW QUESTION 54
Which method is used to allocate total transaction price across performance obligations in Revenue Management?
- A. Alternative Allocation Method
- B. Two Step Allocation Method
- C. Inverted Allocation Method
- D. Relative Allocation Method
- E. Residual Allocation Method
Answer: B
NEW QUESTION 55
Which, when transferred to a customer, allows you to recognize revenue?
- A. promise detail
- B. a performance obligation
- C. an invoice
- D. a shipment
Answer: B
NEW QUESTION 56
Which is NOT a required piece of information when importing contract header Information from a source file?
- A. Date of Source Document
- B. Record Type
- C. Source Document Type code
- D. Source Document Unique Identifier Number 1
- E. Source System
- F. Currency code of source document
Answer: D
NEW QUESTION 57
Which two settings are related to the "Invalid Line Handling" Revenue Management System Option?
- A. Reject contract
- B. Reject line
- C. Void contract
- D. Reverse line
- E. Preserve contract
Answer: A,B
NEW QUESTION 58
A furniture store is running a promotion for a toaster with the purchase of a sofa or chair set. Data about the free toaster is not captured in any upstream application.
How should you handle this scenario In Revenue Management?
- A. Define an adhoc rule in the Revenue Price Profile to include the toaster.
- B. Ignore the performance obligation for the toaster because it was free of cost to the customer.
- C. Define an Implied Performance Obligation Template to automatically add a performance obligation for the toaster.
- D. Create the performance obligation for the toaster manually.
Answer: C
NEW QUESTION 59
65-A business entity (your client) sells a computer, monitor, keyboard, and mouse as a single package to consumers. The entity has identified that this bundle is a distinct performance obligation. How would you configure the Performance Obligation Identification Rule to ensure correct grouping of these items?
- A. By defining an exclusion rule to exclude customer classes that are "Retail"
- B. By defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain different values for that attribute
- C. By defining a grouping rule on the customer class
- D. By defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain the same value for that attribute
- E. By defining an item group and assigning that to the rule
Answer: B
NEW QUESTION 60
A business entity (your client) sells a computer, monitor, keyboard, and mouse as a single package to consumers. The entity has identified that this bundle is a distinct performance obligation. How should you configure Revenue management to ensure that these items are grouped into one performance obligation?
- A. By defining a Standalone Selling Price Profile.
- B. By defining a Revenue Item Group
- C. By defining a Performance Obligation Template.
- D. By defining a Contact Identification Rule.
Answer: B
NEW QUESTION 61
The Customer Contract Source Data Import Template contains three tabs that store data for the VRM_SOURCE_DOCUMENTS, VRM_SOURCE_DOC_LINES, and VRM_SOURCE_DOC_SUB_LINES tables respectively.
What data Is captured In the "Customer Contract Source Document Sub Lines" tab (VRM_SOURCE_DOC_SUB_LINES table)?
- A. Sub contract level details.
- B. Sales order header level data.
- C. Sales order line level data.
- D. Performance obligation satisfaction event details.
Answer: D
NEW QUESTION 62
How many tabs does the Customer Contract Source Data Import Template have?
- A. two tabs that store data for the VRM_SOURCE_DOCUMENTS and VRM_SOURCE_DOC_LINES tables respectively
- B. three tabs that store data for the VRM_SOURCE_DOCUMENTS, VRM_SOURCE_DOC_LINES, and VRM_SOURCE_DOC_SUB_LINES tables respectively
- C. four tabs that store data for the
VRM_SOURCE_DOCUMENTS, VRM_SOURCE_DOC_LINES, VRM_SOURCE_DOC_SUB_UNES, and VRM_PERF_OBLIG tables respectively - D. one tab that stores data for the VRM_SOURCE_DOCUMENTS table
Answer: B
Explanation:
You can import source transactions using the Customer Contract Source Data Import process. Customer Contract Source Data Import uses three interface tables--one parent table and two child tables--to represent source documents, source document lines, and source document sub-lines. The parent table, VRM_SOURCE_DOCUMENTS contains the source document information. The child tables contain the following information for a given interface line record: VRM_SOURCE_DOC_LINES contains source document line details; VRM_SOURCE_DOC_SUB_LINES contains source document sub line details
NEW QUESTION 63
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